The 2017 Tax Cuts and Jobs Act made significant prospective changes to Section 174 that will end expense deductions and require the capitalization of specified research and experimental (“R&E”) expenditures. This event included a review of the technical authority that is available to identify research or experimental expenditures, as well as an overview of other code sections impacted by R&E expenditures. In addition, Managing Director, Kathleen King considered the broader impact of these changes on other areas of tax, as well as practical strategies to manage these changes.